Co-working business of the firm grew 27% YoY, driven by sustained demand from enterprises, Global Capability Centres (GCCs), and multi-centre clients, alongside the continued premiumisation of our portfolio.
Company’s transform business (construction and fit-out solutions) delivered 25% YoY growth, supported by a healthy pipeline of projects from large enterprises and GCCs, particularly those expanding into new geographies or consolidating operations into hybrid, technology-enabled workplaces.
“Our reported EBITDA increased 28% YoY to Rs 162 crore, with EBITDA margins of 38.2%. Profit Before Tax (PBT) stood at Rs 24 crore. During the quarter, we added 7 new centres, taking our network to 251 centres with approximately 170,000 seats across 18 cities, spanning both Tier 1 and Tier 2 markets and serving a diversified base of nearly 3,600 clients. Occupancy at centres with more than 12 months of vintage stood at 83%, while overall portfolio occupancy was 76%,” said Amit Ramani, chairman and managing director.
As the portfolio premiumises, newly added premium inventory is expected to command pricing that is 30–50% higher than our current portfolio, supporting future revenue and margin expansion.
Looking ahead, we are confident that our key growth drivers remain firmly in place. With a differentiated pan-India network, a growing portfolio of premium Gold and Elite centres, strong managed office capabilities, and integrated workplace solutions under one roof, Awfis is well positioned to capitalize on the growing demand for flexible workspaces across India,” Ramani said.